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TX GENERAL LINES LIFE, ACCIDENT AND HEALTH EXAM PREP
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TX GENERAL LINES LIFE, ACCIDENT AND HEALTH EXAM PREP
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TX GENERAL LINES LIFE, ACCIDENTAND HEALTH EXAM PREP
Health insurance coverage under COBRA, HIPAA guarantees that the person will - correct
answer-Have Acces to a guaranteed-issue individual health policy, regardless of health
All the following statements about ordinary (or straight) whole life insurance are correct -
correct answer-The cash value remains level throughout the life of the policy
Which activity in NOT an error or omission that makes an agent or producer legally to both
the insurance and the insure - correct answer-Placing insurance with an approved surplus
line insurer
All the following statements about the taxation of annuities are correct EXEPT: - correct
answer-Qualified annuities are taxes no different than no qualified annuities
Which of the following statements about utmost good faith in insurance is correct - correct
answer-Both the insurance and the insurer must act in utmost good faith
Which annuity settlement option pays income for the annuitant's life, but no less than for a
specified number of year - correct answer-Life income with period certain
Tim has paid only four premium totally $1000 on his health insurance policy when he was
diagnosed with cancer. The insurance company paid more than $100.000 to cover the
medical bills for his treatments which of the following characteristics of insurance contracts -
correct answer-They are aleatory
Jack, an insurance agent, offers free season football tickets to anyone who buys a life
insurance policy from him. This sales practice is called - correct answer-rebating
After Todd was injured in a car crash, he received occupational theyto help him return to
work. His disability income policy paid for this therapy because it had - correct answer-A
rehabilitation provision
If a small employer insurance decides to terminate all small employer health benefits plans it
issues in TEXAS, it must notify the TEXAS commissioner and all affected employer of its
intent to do so at least - correct answer-At least 180 days before it ends coverage
Contract characteristics is unique to insurance contracts but NOT all contracts - correct
answer-Unilateral
When first meeting prospective insurance applicants, a producer must give them a document
that explains the general features, benefits, and condition of type of insurance being
considered. Which is called a - correct answer-Buyer's Guide
, Abby, who life in New York she is a licensed life insurance agent , wants to apply fo a
nonresident license in Texas. To do so, she must submit which of the following to TDI -
correct answer-An aplicación, few and letter of certification from her home state
Amanda used a basic illustration to help Mark. a potencial cliente, de understand how the
cash value of his life insurance policy would grow. Mark then agreed to buy the policy. Which
of the following best describes Amanda's duties which respect to delivering a copy of the
illustration used - correct answer-Amanda must deliver a signed copy ilustración to both
Mark and the insurer
With respect to the transfer-for-value rule, which of the following situations would result in
the new owner being subject to tax on the policy's gain upon the insured's death - correct
answer-Policy is sold by the insured to neighborhood in exchange for cash
Which of the following describes the options available with a universal life insurance policy
the owner no longer wishes to maintain - correct answer-Surrender the policy for its cash
value or let the policy continue without premium until the cash value can no longer cover
monthly deductions
A section 125 cafeteria plan may cover which of these expenses - correct answer-Health
insurance premiums
An insurance producer tells a life insurance applicant that he has the authority to waive the
medical exam that is normally required by the insurer with every application. The insurer
may be required to accept the application without a medical exam due to the producers: -
correct answer-Apparent authority
A long-term care rider on a life insurance policy will pay benefits if the insured is diagnosed
as chronically ill due to which of the following? - correct answer-Either a medical or cognitive
(mental health) reason
Which federal law group health plans and protects their enrollees - correct answer-A
What type of state regulation gives a person in poor health or with a pre-existing condition
the opportunity to buy health insurance - correct answer-Guaranteed issue
With certain limitations a policyowner may change all of the following in a life insurance
policy, EXCEPT: - correct answer-The incontestability provision
With certain limitations, a policyowner may change all of the following in a life insurance
policy, EXCEPT: - correct answer-A
Where can a person set up a health care savings account (HSA) - correct answer-Financial
institution
Which statement about converting coverage under a children's term rider is correct - correct
answer-Conversion is possible even if the child is uninsurable, and the converted policy
coverage amount may be greater than amount provided under the rider
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